Caribbean Community Resilience Fund

in implementation

Sygnus Capital Ltd. (“Sygnus” or the “Fund Manager”) is raising the Caribbean Community Resilience Fund (“CCRF” or “the Fund”), which is focused on investing in medium‑sized firms and projects that build economic resilience, and climate projects in the Caribbean basin.The Fund will increase climate mitigation and adaptation through its focus on renewable energy, transportation, blue economy, information and communications technology (“ICT”), financial services, agri, and affordable & sustainable housing, throughout the Caribbean.Sygnus is a leading Caribbean alternative asset manager, with extensive experience and a deep regional network. Sygnus will execute CCRF’s mandate through a separate equity vehicle (“CCRF Equity Fund”) and a separate debt vehicle (“CCRF Debt Fund”), with a combined target of US$100 million-US$135 million.IDB Invest has committed an equity investment of up to US$10 million in the CCRF Equity Fund (which includes US$5 million of blended finance resources from the United Kingdom Sustainable Infrastructure Program (“UK SIP”)). IDB Invest is also considering  a participation of up to US$10 million in the CCRF Debt Fund.IDB Invest has conducted an Environmental and Social Due Diligence (“ESDD”) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD confirmed the project’s E&S categorization and assessed the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy.The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (“ESRS”) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (“ESAP”) presented below, to comply with the date mentioned above.